National debt interest rate "benchmark assumption" hits a 17-year high! Will the wave of selling long-term Japanese government bonds start again?

According to the financial news app, Japan's Ministry of Finance plans to set the tentative interest rate for next year's Japanese government bonds at 2.6%, setting a high level not seen in 17 years. Some Japanese media reported on Friday that the cumulative interest rate used as the initial estimate basis for debt repayment costs, also known as the benchmark assumption for Japanese government bond rates, will be set at 2.6% in the upcoming budget draft. A year ago, the initial tentative interest rate for the current fiscal year was 2.1%. The department typically determines this rate by averaging recent market government bond yields and adding 1.1 percentage points to reflect historical volatility.